NexOptic Announces NexCompress™ Commercialization Dual Rollout Strategy
NexOptic (TSXV: NXO) announced a dual rollout strategy for its NexCompress technology, part of its ALIIS suite. This solution significantly reduces video bandwidth and file sizes by 20% to 60% when integrated with existing compression technologies. The company plans to market NexCompress both as a cloud service and an on-premises solution, with commercial availability expected by Q4 2023. Initial feedback from potential clients, including cloud storage and streaming companies, has been positive. NexOptic is also evaluating multiple hardware and cloud providers to finalize its offerings by early Q2 2023.
- NexCompress reduces video bandwidth and file size by 20% to 60%.
- Positive initial feedback from potential clients evaluating NexCompress.
- Cloud and on-premises solutions planned for commercialization by Q4 2023.
- None.
NexCompress is the latest offering added the Company's patented and patent-pending artificial intelligence technologies, and as previously reported it reduces bandwidth and file size of videos by between
Today's lifestyles and business practices are increasingly reliant on cloud data centres. Shopping online, streaming movies, TV & videos, and gaming, require vast amounts of data to be stored and readily available on demand. A large cloud facility will use as much electricity as the average sized North American town. There are already over 8,000,000 data centres globally with no slowdown in sight.
As part its commercialization strategy,
Further to the Company's
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans," "expects," "estimates," "intends," "anticipates," "believes" or variations of such words, or statements that certain actions, events or results "may," "could," "would," "might," "will be taken," "occur," or "be achieved." Forward-looking statements in this news release include, without limitation, the Company's expectations concerning the size of the Financing, its ability to close the Financing in whole or in part or at all and its plan for the proceeds of the Financing. Forward-looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in
Neither the
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FAQ
What is NexOptic's dual rollout strategy for NexCompress?
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